Chapter 13 Vocabulary Question Preview (ID: 34183)


Chapter 13 Vocabulary. TEACHERS: click here for quick copy question ID numbers.

Is the process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers, wherever they are.
a) Marketing
b) Relationship marketing
c) Marketing Mix
d) Market

Is a group of customers who share common wants and needs.
a) Marketing
b) Relationship marketing
c) Marketing Mix
d) Market

Is to build and maintain relationships with their customers.
a) Marketing
b) Relationship marketing
c) Marketing Mix
d) Market

Consists of four basic marketing strategies: product, place, price, and promotion, collectively know at the FOUR Ps.
a) Marketing
b) Relationship marketing
c) Marketing Mix
d) Market

Is a pathway to direct products to consumers.
a) Channel of Distribution
b) Indirect Distribution
c) Break-even point
d) Direction Distribution

Involves one or more intermediaries.
a) Channel of Distribution
b) Indirect Distribution
c) Break-even point
d) Direction Distribution

Is the point at which total revenues, or sales, equal total costs and expenses of developing and offering a product or service.
a) Channel of Distribution
b) Indirect Distribution
c) Break-even point
d) Direction Distribution

Occurs when goods or services are sold form the producer directly to the consumer.
a) Channel of Distribution
b) Indirect Distribution
c) Break-even point
d) Direction Distribution

Are facts about the population. These facts could include age, gender, location, and income.
a) Marketing concept
b) Demographics
c) Market research
d) Target marketing

Involves determining the wants and needs of customers and providing them more efficiently and effectively than competitors.
a) Marketing concept
b) Demographics
c) Market research
d) Target marketing

Is the gathering and analysis of information on the size, location, and makeup of a market.
a) Marketing concept
b) Demographics
c) Market research
d) Target marketing

Helps companies focus on the people most likely to buy their goods or services.
a) Marketing concept
b) Demographics
c) Market research
d) Target marketing

Is the division of a market for a product into groups of customers who have the same needs and traits.
a) Target marketing
b) Market segmentation
c) Test-market
d) Marketing concept

To test-market means to offer it in a limited market for a limited amount of time.
a) Target marketing
b) Market segmentation
c) Test-market
d) Marketing concept

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